22nd January 2022

Confidant Classes

Competitors' very first choice

Home | NEWS Summary | Final Press Conference on Economic Package

Final Press Conference on Economic Package

With a combination of various reforms, fiscal and liquidity measures, Finance Minister Nirmala Sitharaman today completed the announcement of the final stage of Rs. The 20 lakh crore economic package previously announced by Prime Minister Narendra Modi. To improve the livelihoods of the poor, the Modi government has today increased the MGNREGA budget increased by additional Rs. Rs 40 billion. Sitharaman also announced that public sector companies or PSUs will leave non-strategic areas and that private companies will be able to enter all sectors.The Minister of Finance also detailed the distribution of rupees. Package of 20 lakh crore including liquidity measures of Rs. 8 lakh crore announced earlier the RBI, as well as Prime Minister Gareeb Kalyan Yojana.


  • Centre has decided to accede to the request and increased borrowing limits of states from 3% to 5% for 2020-21.
  • States have so far borrowed only 14% of the limit authorised but 86% of the authorised borrowing remains unutilised.
  • Revenue deficit grants to states worth Rs. 12,390 crore given on time in April and May, despite Centre’s stressed resources.
  • Devolution of taxes worth Rs. 46,038 crore in April was given fully as if Budget estimates were valid, even though actual revenue shows unprecedented decline from Budget estimates.
  • New policy to broadly categorise strategic sectors Public sector enterprise policy.
  • All sectors will be open to private sectors also while PSUs will play an important role in defined areas.
  • Lower penalties for all defaults for small companies, one-person companies, producer companies and start-ups.
  • Companies listing only NCDs on stock exchange will not be regarded as listed companies.
  • Direct listing of securities in foreign jurisdictions permitted.
  • The amendments in Companies Act will de-clog criminal courts and NCLT.
  • Decriminalisation of Companies Act violations involving minor technical and procedural defaults, majority of compoundable offences sections to be shifted to internal adjudication mechanism.
  • Minimum threshold to initiate insolvency proceedings raised to Rs. 1 crore from Rs. 1 lakh. This will largely insulate MSMEs.
  • No fresh insolvency proceedings upto 1 year, Debts related to Covid shall be excluded from IBC.
  • Top 100 universities will be permitted to automatically start online courses by May 30 this year.
  • Extensive use of radio, community radio and podcasts One TV channel will be earmarked for every class from 1 to 12.
  • Online education during Covid; Provision for live telecast of interactive channels with experts through Skype.
  • Health and wellness centres in urban and rural areas will be increased, Public health expenditure will be increased, The central govt has already announced Rs. 15,000 crore healthcare funds to fight Covid-19.
  • Govt to allocate additional Rs.  40,000 crore for MGNREGA to provide employment boost. It will help generate 300 crore person days in total.
  • 12 lakh EPFO subscribers withdrew Rs. 6,060 crore under the Covid pandemic withdrawal.
  • Jan Dhan account: 20 crore women got more than Rs. 10,000 crores.
  • PM Gareeb Kalyan Package Yojana: Direct benefit transfer has reached 8.9 crore farmers. Amount disbursed Rs. 16,394 crores.
  • The definition of “covid-related debt” will be announced soon in a notification,
  • RBI measures of Rs. 801,603 included in Rs. 20 lakh crore economic package.
  • Total stimulus package is worth Rs. 20,97,053 crore, Fourth and fifth tranche is worth Rs. 48,100 crore,
  • Stimulus measures announced in third part worth Rs. 1.5 lakh crore Second tranche was worth Rs. 310,000 crore,
  • Economic package tranche 1 was worth Rs. 594,500 crore Stimulus measures from earlier announcements was worth Rs. 192,800 crore,
  • Revenue loss due to tax concession is Rs. 7,800 crore This will give states extra resources of Rs. 4.28 lakh crore.

Daily NEWS Summary | 21-01-2022

Amar Jawan Jyoti ‘merged’ with National War Memorial Daily NEWS Summary |21-01-2022; The iconic Amar Jawan Jyoti (AJJ) at India…
Read More

Daily NEWS Summary | 20-01-2022

The Supreme Court confirms the validity of the OBC quota in NEET admissions Daily NEWS Summary | 20-01-2022; Supreme Court…
Read More

Daily NEWS Summary | 19-01-2022

Supreme Court will order ex gratia payment to relatives of deceased by COVID-19 Daily NEWS Summary | 19-01-2022; Supreme Court…
Read More

Daily NEWS Summary | 18-01-2022

Supreme Court asks Center to clarify starvation death figures Daily NEWS Summary | 18-01-2022; Supreme Court questions about starvation deaths…
Read More

Daily NEWS Summary | 17-01-2022

Two out of three Indians killed in Abu Dhabi fuel truck explosion, Yemeni Houthis claim responsibility Daily NEWS Summary |…
Read More

Daily NEWS Summary | 16-01-2022

Novak Djokovic deported from Australia Daily NEWS Summary | 16-01-2022; Novak Djokovic has been kicked out of Australia after losing…
Read More

Daily NEWS Summary | 15-01-2022

Election commission extends the ban on rallies and road shows until January 22 Daily NEWS Summary | 15-01-2022; Election Commission…
Read More

Daily NEWS Summary | 14-01-2022

IAF helicopter crash | The consultation excludes mechanical failure, sabotage or negligence Daily NEWS Summary | 14-01-2022; The tri-agency investigation…
Read More

Daily NEWS Summary | 13-01-2022

Mother of Unnao rape victim, anti-CAA activist on first list of 125 candidates for U.P. Daily NEWS Summary | 13-01-2021;…
Read More

Daily NEWS Summary | 12-01-2022

Haridwar hate speech: Supreme Court asks Uttarakhand why defendants were not detained Daily NEWS Summary | 12-01-2022; Supreme Court asked…
Read More

AatmNirbhar Bharat amazon CBSE corona vaccination CORONA VACCINE Coronavirus Covaxin COVID COVID 19 COVID19 Covid update Covid updates COVID VACCINE covishield DAILY NEWS SUMMARY Donald trump DRDO Facebook farmers protest GDP GST ICMR indian economy INDO-CHINA BORDER DISPUTE INDO-CHINA CONFLICT JOE BIDEN LAC lockdown Mann ki baat NARENDRA MODI NEET NV Ramana PRASHANT BHUSHAN RAHUL GANDHI RAJASTHAN POLITICAL CRISIS RAJSTHAN POLITICAL CRISIS RBI RIL Sputnik V Supreme Court supreme court of india Taliban twitter UAPA WHO


Enjoy this? Please spread the word :)